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re: What Actually Happens Oct. 17th
Posted on 10/8/13 at 1:56 pm to BennyAndTheInkJets
Posted on 10/8/13 at 1:56 pm to BennyAndTheInkJets
from the OP article:
Anyone know anything about the significance of this fact in detail? Seems absurd that we have no way to prioritize principal/interest above all else.
(It does seem much less absurd that we might not be able to prioritize different types of entitlement-payments from each other.)
quote:
It is worth noting that those principal and interest payments, unlike other Treasury payments, are made through the Fedwire system, which could allow easier segregation from other outlays.
Anyone know anything about the significance of this fact in detail? Seems absurd that we have no way to prioritize principal/interest above all else.
(It does seem much less absurd that we might not be able to prioritize different types of entitlement-payments from each other.)
1
Posted on 10/8/13 at 2:18 pm to 90proofprofessional
quote:
Anyone know anything about the significance of this fact in detail? Seems absurd that we have no way to prioritize principal/interest above all else.
You have to submit checks/payments to a vast array of government agencies to pay salaries. You would have to send checks/payments to large amount of hospitals, doctors, citizens, etc. to pay medical entitlements. All you have to do is send a book entry wire to banks to pay Treasury payments. It's just operationally a lot easier than dealing with the first two.
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